Latest news with #NationalTechnologyDevelopmentProgram
Leaders
25-05-2025
- Business
- Leaders
Saudi Arabia Ignites AI Innovation with Groundbreaking Startup Incubator
Saudi Arabia is significantly increasing its investment in artificial intelligence (AI) by launching a national incubator program. This initiative aims to accelerate the growth of early-stage AI startups across the Kingdom. The Ministry of Communications and Information Technology (MCIT) leads this four-month program through its Centre of Digital Entrepreneurship. Comprehensive Support for Startups The incubator will support 20 AI ventures by providing essential resources such as mentorship, funding, and workspace. Additionally, participants will gain access to government-backed digital incentives that enhance their growth potential. Financial support will come from the National Technology Development Program (NTDP), ensuring startups receive the necessary funding to thrive. Moreover, strategic partnerships with key organizations will help startups access vital technical and commercial expertise. Collaborations with the Saudi Data and AI Authority (SDAIA), the Saudi Company for Artificial Intelligence, SambaNova, and BIM Ventures will strengthen the program's impact. These partnerships will provide startups with the tools they need to succeed in a competitive market. Aligning with Vision 2030 Goals This initiative aligns with Saudi Arabia's Vision 2030 strategy, which aims to build a diversified, knowledge-driven economy. By reducing long-term dependence on oil revenues, the Kingdom seeks to foster innovation and entrepreneurship. The incubator follows the recent launch of Humain, a PIF-backed AI company focused on enhancing national capabilities in data infrastructure, machine learning, and cloud computing. By targeting early-stage companies with tailored support, the new incubator aims to establish a competitive AI ecosystem. This ecosystem will position the Kingdom as a regional and global leader in emerging technologies. Ultimately, this initiative represents a significant step forward in Saudi Arabia's commitment to advancing its tech economy and fostering innovation. Short link : Post Views: 22
CairoScene
25-05-2025
- Business
- CairoScene
Saudi Arabia Launches AI Startup Incubator to Boost Tech Economy
A new incubator led by the Ministry of Communications and Information Technology will support 20 AI startups. May 25, 2025 Saudi Arabia is ramping up its investment in artificial intelligence with the launch of a national incubator programme designed to accelerate the growth of early-stage AI startups. Led by the Ministry of Communications and Information Technology (MCIT) through its Centre of Digital Entrepreneurship, the four-month programme will support 20 AI ventures with mentorship, funding, workspace, and access to government-backed digital incentives. Financial support will come via the National Technology Development Program (NTDP), while strategic partnerships with the Saudi Data and AI Authority (SDAIA), the Saudi Company for Artificial Intelligence, SambaNova, and BIM Ventures will help startups access technical and commercial expertise. The initiative is a key part of Saudi Arabia's Vision 2030 strategy, which seeks to build a diversified, knowledge-driven economy and reduce long-term dependence on oil revenues. It also follows the recent launch of Humain, a PIF-backed AI company focused on building national capabilities in data infrastructure, machine learning, and cloud computing. By targeting early-stage companies with tailored support, the new incubator aims to lay the foundation for a competitive AI ecosystem capable of positioning the Kingdom as a regional and global leader in emerging technologies.
Leaders
21-05-2025
- Business
- Leaders
Saudi Arabia Named ‘Country of the Year' After Record-Breaking Leap in StartupBlink Index
Saudi Arabia has achieved a significant milestone in innovation, recording the sharpest rise in StartupBlink's Global Startup Ecosystem Index 2025. In its newly released Ecosystem Report 2025, StartupBlink also named the Kingdom its 'Country of the Year' in recognition of its rapid progress. This accomplishment underscores Saudi Arabia's growing prominence on the global innovation and digital economy landscape. It highlights the impact of coordinated efforts by the National Technology Development Program and various government and private stakeholders contributing to the nation's thriving startup ecosystem. Riyadh led the way on the global city scale, posting the highest growth rate among the top 100 cities in innovation and entrepreneurship. The Saudi capital now ranks first globally in nanotechnology and transportation technologies, and second in financial technologies. The report also emphasized Saudi Arabia's strength across multiple tech sectors. The Kingdom ranked: 1st in healthcare technologies in healthcare technologies 2nd in insurance and investment technologies, and logistics and delivery applications in insurance and investment technologies, and logistics and delivery applications 3rd in digital payments in digital payments 5th in electronic gaming in electronic gaming 7th in educational technologies These achievements reflect the diversity and depth of the Kingdom's innovation ecosystem and the growing confidence of global investors in its economy. This momentum supports the broader objectives of Vision 2030, driving forward a sustainable, entrepreneurial, and digitally advanced economy. Related Topics : Muslim Tech Fest 2025 Offers £30K Prize to Boost Startups Qualcomm, Aramco, RDIA Unite to Boost Saudi Arabia's High-Tech Startups Biban24: LBS Expands MENA Startup Competition to Saudi Arabia Saudi Museums Commission Fosters Cooperation with Philharmonie de Paris Short link : Post Views: 12 Related Stories
Mid East Info
09-04-2025
- Business
- Mid East Info
Lucidya Secures SAR 5 Million Grant from Saudi Arabia's National Technology Development Program - Middle East Business News and Information
RIYADH, Saudi Arabia: Lucidya, the leading AI-powered customer experience management (CXM) platform in the Arab world, has secured a SAR 5 million (USD 1.3 million) grant from Saudi Arabia's National Technology Development Program (NTDP). This strategic milestone reinforces Lucidya's position as a front-runner in the rapidly expanding AI and CXM space, while accelerating its plans for regional market expansion. The NTDP, an initiative owned by Saudi Arabia's Ministry of Communications and Information Technology (MCIT), is designed to empower high-potential technology companies and fast-track Saudi Arabia's Vision 2030 goals. The SAR 5 million grant will enable Lucidya to scale operations, enhance its product offerings, and expand into new markets beyond the Kingdom. The grant announcement comes as MCIT launches the second phase of its Source Tech initiative. This program aims to advance Saudi Arabia's digital economy by further localizing application development, outsourcing, and communication services, positioning the Kingdom as a global hub for digital innovation. Ziyad Binsulaiman, Business Development Director at Lucidya, commented on the grant sharing, 'Lucidya is positioned to accelerate its growth trajectory and contribute to Saudi Arabia's vision of becoming a global leader in technology and innovation by transforming how organizations manage customer experiences. We are honored to receive this grant, which will help us expand Lucidya's innovative solutions across new markets and elevate the region's CX standards.'
Zawya
09-04-2025
- Business
- Zawya
Lucidya secures SAR 5mln grant from Saudi Arabia's National Technology Development Program
RIYADH, Saudi Arabia, (GLOBE NEWSWIRE) -- Lucidya, the leading AI-powered customer experience management (CXM) platform in the Arab world, has secured a SAR 5 million (USD 1.3 million) grant from Saudi Arabia's National Technology Development Program (NTDP). This strategic milestone reinforces Lucidya's position as a front-runner in the rapidly expanding AI and CXM space, while accelerating its plans for regional market expansion. The NTDP, an initiative owned by Saudi Arabia's Ministry of Communications and Information Technology (MCIT), is designed to empower high-potential technology companies and fast-track Saudi Arabia's Vision 2030 goals. The SAR 5 million grant will enable Lucidya to scale operations, enhance its product offerings, and expand into new markets beyond the Kingdom. The grant announcement comes as MCIT launches the second phase of its Source Tech initiative. This program aims to advance Saudi Arabia's digital economy by further localizing application development, outsourcing, and communication services, positioning the Kingdom as a global hub for digital innovation. Ziyad Binsulaiman, Business Development Director at Lucidya, commented on the grant sharing, 'Lucidya is positioned to accelerate its growth trajectory and contribute to Saudi Arabia's vision of becoming a global leader in technology and innovation by transforming how organizations manage customer experiences. We are honored to receive this grant, which will help us expand Lucidya's innovative solutions across new markets and elevate the region's CX standards.' About Lucidya Lucidya is a fully compliant, AI-powered unified customer experience platform (CXM) designed to support CX and marketing leaders in large enterprises, governments, and SMEs across the Arab world. Through the power of AI, Lucidya enables organizations to turn raw data into meaningful interactions and actionable insights, allowing them to build human connections and drive real business impact, safely and securely. About NTDP The National Technology Development Program (NTDP) is a key national initiative aimed at advancing the Kingdom's technology ecosystem. Through targeted interventions and funding programs such as the Bridge Fund, NTDP empowers high-growth companies and fosters an environment that supports innovation, investment, and sustainable market development—helping position Saudi Arabia as a regional hub for technological excellence. A photo accompanying this announcement is available at For press inquiries, please contact dsalem@
